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Alphabet (Google) (GOOGL) stock is climbing higher mainly because regulatory risks have eased (courts and regulators dropped major antitrust threats), investor optimism is strong around its AI and cloud growth, and it recently hit the $3 trillion market cap milestone, boosting sentiment. Solid ad revenue plus new AI products add to the momentum, though risks remain from ongoing regulation, competition, and high valuation.
From Elliott wave perspective, it’s trading in subwave “iii” of 3 of an ongoing five-wave bullish impulse on a daily chart, so more upside can be seen up to 270-300 area, just watch out on short-term 4th wave pullbacks.
GOOGL Daily Chart
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